CBA is the one big bank that doesn’t trade ex-dividend this month but that’s not necessarily a headwind for the stock because while local investors love their fully franked dividends, overseas players cannot enjoy the extra cream on the cake. It’s not unusual for the other banks, ANZ, NAB, and WBC, to actually drift into their respective dividend which coincides with November being a month of 2 halves i.e. down early then up into December.
- We have been calling CBA to trade between $90 and $110 all year with any dips/pops outside this range as buying/selling opportunities.
MM remains long and bullish CBA
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